Saving for something special? We’ll make it easy.

Savings, Club Accounts, Money Market Accounts, CDs and IRAs (Individual Retirement Accounts) are ideal to help you save for the future. Each one has unique features and can fit your budget depending on what you’re saving for. To help you decide which is best for you, below is a chart that compares their general features.

Savings

Clubs

Money Markets

CDs

IRAs

Some popular uses for the account

Saving for emergencies; starting to save for the first time; and, overdraft protection.

Saving for a specific purpose that occurs year after year, like vacation, Christmas, or even property taxes.

Looking for a better return on money that you already have saved.

Looking for a better return on money that you already have saved.

If you're working, IRAs are perfect to use when saving for retirement.

Amount needed to open

Varies from $10 - $50

$5

Varies from $1,000-$5,000

Varies from $500-$1,000

Varies from $500-$1,000

Are interest rates lower or higher than other savings accounts?

Rates tend to be lower.

Rates tend to be lower.

Rates may be a little higher.

Rates may be a little higher.

Rates may be a little higher.

How often can I make deposits?

As often as you want.

Weekly, bi-weekly or monthly, it's up to you.

As often as you want.

You make an initial deposit to open the CD. At the end of the term when it's time to renew the CD, you can make another deposit.

Deposits to IRA Money Market and IRA Flex Accounts may be made anytime. For IRA CDs, like regular CDs, deposits are made when the CD is opened and may also be made when the term is over and it's time to renew the CD.

How often can I make withdrawals?

You may make up to six preauthorized withdrawals per month. No limits on withdrawals done in person at an office or ATM, or by mail.

You may withdraw money once the Club matures.

You may make up to six preauthorized withdrawals per statement cycle. No limits on withdrawals done in person at an office or ATM, or by mail.

You may withdraw money once the CD matures.

You may withdraw money at retirement or to transfer money to another type of retirement account.

Savings

Get off to an easy start with saving.

With our Statement Savings, you can save as often and as much as you want for a rainy day or emergencies, and access the funds whenever you need them. If you’re looking for a savings account for children, we can help there, too. Buckley’s Savers is a savings account for children up through 12 years old and MyBux is for teens ages 13-17.

Statement Savings

Open with $50, and keep a $50 daily balance in the account to avoid the $3 monthly fee.

Keep at least a $100 daily balance in the account to earn interest. Fees may reduce earnings.

It’s easy to save when you pay yourself first. Have a portion of your paycheck directly deposited in to the account. All you have to do is complete this form and give it to your payroll department. Even just a little at a time adds up!

Link your savings to one of our debit cards so your money is with you whenever an emergency arises.

There are limits on withdrawal transactions. You may only make six transfers from your account each month --- six preauthorized withdrawals, automatic or telephone transfers, debit card or other similar transactions, and online banking. Unlimited withdrawals or transfers in person, by mail or via ATM.

Buckley’s Savers and MyBux

Buckley’s Savers is ideal for children up through 12 years old. MyBux is for teens 13-17.

No monthly fees mean your child can save even more money.

It’s easy for kids to start saving…open with just $10. Keep at least $1 in the account to earn interest.

Kids will enjoy rewards for every 10th deposit and a gift on their birthday.

Take advantage of four special days each year just for kids.

There are limits on withdrawal transactions. You may only make six transfers from your account each month --- six preauthorized withdrawals, automatic or telephone transfers, debit card or other similar transactions, and online banking. Unlimited withdrawals or transfers in person, by mail or via ATM.

Club Accounts

Start saving for the holidays or vacation with just $5.

It can be tough managing the extra expenses during the holidays or paying for a big vacation. Our Christmas Club or VIP Club will help you pay for those extras without breaking your budget. You can watch your club account grow using online banking.

VIP Club - Very Important Purpose Club

Open with $5 and choose your maturity date---either the 15th or the 30th of the month of your choice, within the 12-month period of the open date.

You can quickly and conveniently add to your club---payments are automatically deducted from another ACNB Bank checking or statement savings account and directly deposited into the club.

When the club matures, the funds are directly deposited into your ACNB Bank checking or statement savings account.

Christmas Club with Automatic Payment Deduction

Open with $5.

You can quickly and conveniently add to your club---payments are automatically deducted from another ACNB Bank checking or statement savings account and directly deposited into the club.

When the club matures in October, the funds may be deposited into your ACNB Bank checking or statement savings account, or mailed to you by check.

Money Markets

Get the best of both savings and checking with Money Market Accounts.

Money market accounts pay interest like a savings, and like checking, it’s easy to get cash when you need it at an ATM or by writing a check. Because money markets are unique types of savings accounts, there are regulations that specify the number and types of withdrawals that are permitted. You may only make six transfers from your account each statement cycle --- six by checks to third parties and preauthorized withdrawals, automatic or telephone transfers, debit card or other similar transactions, and online banking. Unlimited withdrawals or transfers in person, by mail or via ATM.

Classic Money Market

Open with $5,000; going forward, keep a $5,000 daily balance in the account to avoid a $20 monthly fee.

The more you keep in the account, the more interest you’ll earn. A minimum rate of interest is earned with $5,000. Other interest rate tiers include $24,999.01, $99,999.01 and $499,999.01. Fees may reduce earnings.

Enjoy the benefits of free Classic Money Market Account checks and 50% discount on a safe deposit box. You can choose your safe deposit box out of any that are available, and the annual rental payment on the safe deposit box will be automatically deducted from your Classic Money Market.

Money Market Account

Open with $1,000; going forward, keep a $500 daily balance in the account to avoid a $5 monthly fee.

The more you keep in the account, the more interest you’ll earn. A minimum rate of interest is earned with $500 and from time to time, a higher rate of interest may be earned with $999.01. Fees may reduce earnings.

CDs

Save for the long-term with our CDs and IRAs.

CDs (Certificates of Deposit) and IRAs (Individual Retirement Accounts) are good choices if you’ve already built up some savings. You invest your money for a specific period of time that you choose, and in return you have the benefit of earning more interest than with a typical savings account. Since IRAs are designed to help you save for retirement, there are federal regulations in place that govern how they work. We’ll make it easy and help you every step of the way if you choose us for your IRA.

CDs

$500 is needed to open CDs with terms of 6, 12, 18, 24, 30, 36, 48, and 60 months. With $1,000, you can also open 8-31 Day and 32-90 Day CDs.

Depending on your CD’s term and balance, the interest may be automatically deposited into another ACNB Bank checking or statement savings account, credited to the CD, or paid by check.

On the CD’s maturity date, you may have the CD automatically renew for the same term, or you may transfer the funds into a different CD. It’s your choice.

CDs are subject to a penalty for early withdrawal. These fees may reduce earnings.

CDARS - Certificate of Deposit Account Registry Service

If you have a large amount you want to invest in CDs, but don’t want to be limited to $250,000 in FDIC insurance, CDARS is a good option for you. CDARS stands for Certificate of Deposit Account Registry Service. When you place a large amount of funds with us, we place your funds into CDs issued by other organizations that are in the CDARS network with us---in increments of less than $250,000---so that both principal and interest are eligible for complete FDIC protection.

Funds may be submitted for placement only after a depositor enters into the CDARS Deposit Placement Agreement with ACNB Bank. The agreement contains important information and conditions regarding the placement of funds by us.

IRAs

You can choose from four types of IRAs: Traditional, Roth, Spousal and a Coverdell Education Savings Account (ESA). Traditional and Roth IRAs are the most common types. See which one is right for you using the chart below.

Traditional IRA

Roth IRA

To open, do I have to be working and earn income?

Yes

Yes. Plus, your modified adjustable gross income must be less than $132,000 for single taxpayers and $194,000 for married taxpayers filing jointly.

Any age limits?

Under 70½

No limit

Is there a limit on how much I can contribute to an IRA?

Yes, up to $5,500 or 100% of earned income per year, whichever is less. The annual contribution is coordinated with Roth IRA contributions to ensure the limit is not exceeded.

Yes, up to $5,500 or 100% of earned income per year, whichever is less. The annual contribution is coordinated with Traditional IRA contributions to ensure the limit is not exceeded.

Are contributions tax-deductible?

Yes, depending upon your income and participation in an employer-sponsored retirement plan.

No

When I eventually withdraw money from the IRA, will it be taxable? (Withdrawing money from an IRA is called a distribution.)

All of the distribution is taxable---both the amount you contributed and the amount that you earned as interest.

None of the distribution is taxable, as long as the IRA has been open for five years and one of the following applies: the withdrawals occur after age 59½; the IRA owner dies or becomes disabled; or, up to $10,000 of the withdrawal is used for a qualified first home purchase. Distributions that do not meet these requirements may be taxable and subject to an IRS 10% premature distribution penalty.

Are there any other rules I should know?

Distributions before age 59½ are taxable and subject to an IRS 10% premature distribution penalty, unless the IRA owner dies or becomes disabled, or the funds are used for one of the following purposes: a qualified first home purchase; higher education; eligible medical expenses exceeding 7.5% of adjusted gross income; or, eligible medical insurance premiums by qualified unemployed individuals. Funds used for these purposes are taxable.

Distributions must begin by age 70½ to avoid IRS penalties.

Distributions may be used for qualified higher education expenses if the IRA has been open for five years. Earnings are taxable, but the distribution would not be subject to an IRS 10% premature distribution penalty.

There is no age requirement for beginning distributions.

You may wish to contact a tax advisor for more specific advice about IRAs.

Types of IRAs

Traditional IRA

To open, you must be working and under age 70½.

You may make an annual contribution up to $5,500 or 100% of earned income, whichever is less. The contribution is coordinated with Roth IRA contributions to ensure the limit is not exceeded.

If you are 50 years of age or above, you may make additional contributions of $1,000 per year.

Contributions may be tax-deductible, depending upon your income and participation in an employer-sponsored retirement plan.

Earnings are tax-deferred until they’re withdrawn. Then, the entire distribution, including earnings and contributions, is taxable.

Distributions before age 59½ are taxable and subject to an IRS 10% premature distribution penalty, unless the IRA owner dies or becomes disabled, or the funds are used for one of the following purposes: a qualified first home purchase; higher education; eligible medical expenses exceeding 7.5% of adjusted gross income; or, eligible medical insurance premiums by qualified unemployed individuals. Funds used for these purposes are taxable.

Distributions must begin by age 70½ to avoid IRS penalties.

Roth IRA

To open, you must be working. Plus, your modified adjustable gross income must be less than $132,000 for single taxpayers and $194,000 for married taxpayers filing jointly.

If you are 50 years of age or above, you may make additional contributions of $1,000 per year.

You may make an annual contribution up to $5,500 or 100% of earned income, whichever is less. The contribution is coordinated with Traditional IRA contributions to ensure the limit is not exceeded.

Contributions are not tax-deductible.

Interest earnings are tax-free in most cases.

Distributions are tax-free as long as the IRA has been open for five years and one of the following applies: the withdrawals occur after age 59½; the IRA owner dies or becomes disabled; or, up to $10,000 of the withdrawal is used for a qualified first home purchase. Distributions that do not meet these requirements may be taxable and subject to an IRS 10% premature distribution penalty.

Distributions may be used for qualified higher education expenses if the IRA has been open for five years. Earnings are taxable, but the distribution would not be subject to an IRS 10% premature distribution penalty.

There is no age requirement for beginning distributions.

Spousal IRA

A working spouse may open an IRA for a spouse who is not earning compensation. It may be established as a Traditional or Roth IRA.

The IRA contributions are placed in two separate accounts---one for each spouse.

You may make an annual contribution up $11,000 or 100% of the working spouse’s compensation, whichever is less, with no more than $5,500 deposited into either account annually.

If you are 50 years of age or above, you may make additional contributions of $1,000 per year.

To open, you must plan on filing a joint tax return when it comes time to do your taxes.

Coverdell Education Savings Account (ESA)

Funds are used to pay for the future qualified education expenses of a designated beneficiary under age 18.

Any individual may open a Coverdell ESA for a designated beneficiary.

You may make a contribution up to $2,000/year.

Contributions are not tax-deductible.

Interest earnings are tax-free when used for the designated beneficiary’s education expenses.

Funds must be used within 30 days of attaining age 30 of the beneficiary; otherwise, the Coverdell ESA funds become subject to income taxes and a 10% IRS tax penalty.

IRA Transfers

IRA transfers can help achieve your retirement planning goals.

If you have funds in an IRA that you want to move into another IRA, we can help. There are four different options for moving your funds. Check them out and see which fits your situation best. Or email us, we’re here to help.

IRA Rollover - IRA funds are withdrawn from another institution and deposited into an IRA with ACNB Bank.

This rollover must be completed within 60 calendar days once the funds have been received, and it can only be done one time in a 12-month period.

The funds in this rollover are not considered part of your annual IRA contribution and are not tax-deductible.

The funds in an IRA transfer are not tax-deductible and are not considered part of your annual IRA contribution.

Qualified Retirement Plan to IRA Direct Rollover - Funds from a qualified retirement plan or tax-sheltered annuity are transferred directly to an IRA at ACNB Bank.

The funds are not subject to federal income tax withholding.

The funds in this rollover are not considered part of your annual IRA contribution and are not tax-deductible.

Qualified Retirement Plan to IRA Rollover - Funds are distributed from a qualified retirement plan or tax-sheltered annuity and paid directly to the owner. The owner must then complete the rollover by depositing the funds into an IRA.

The rollover must be completed within 60 calendar days once the funds have been received. There is no annual limit on this type of rollover.

The funds are subject to a mandatory 20% federal income tax withholding at distribution.

The funds in this rollover are not considered part of your annual IRA contribution and are not tax-deductible.

For more information, please call 717-334-3161 or toll free 1-888-334-2262. A tax advisor may also be a good source for advice on your specific situation.